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There have been plenty of industry surveys produced looking at the Airbnb phenomenon - but the academic analyses have been slower to emerge. One such study was published by Ryerson University in Toronto, Canada, in August this year, covering an in-depth survey and analysis on just under 1,000 respondents in Canada.

Trip characteristics

Accommodation characteristics of most recent stay

Fellow traveller details

Comments

There are some really interesting statistics in this article and I really liked learning some new things on why travelers choose Airbnb. One of the best stats I saw came from the “Reasons for using Airbnb” graph.

Consumers said that they use Airbnb for the household amenities, authentic local experience, and the homey feel. All things most travelers want. These extra amenities and comfort levels would intuitively mean that you would have to pay a premium price. This isn’t the case with Airbnb! Low cost was the biggest reason listed on this graph and that’s why they are so successful. Not only do you get extra amenities and space, but you are also paying less for it.

I work with a property management company that works with over a thousand properties listed on Airbnb as well as other short term rental booking platforms and we have learned that the combination of the amenities, the local experience factor, and a great price point is a very powerful business model for success.